The State of Illinois has created "Invest in Kids Act" a new way to fund scholarships for children who choose to attend Catholic schools. Scholarships offered through this program have the potential to cover up to 100 percent of tuition and eligible charges for next school year.
The program offers both individuals and corporations the opportunity to make donations to an independent Scholarship Granting Organization (SGO) in return for a tax credit on their Illinois income tax equal to 75% of their gift.
Donors can reserve tax credits beginning January 2. Potential student recipients who meet the qualifying income level can begin to apply for a scholarship beginning Wed, Jan 24. Tax credits will be available on a first come, first serve basis beginning Tue, Jan 2 through www.mytax.illinois.gov.